Too many people are not withholding enough income taxes on their W-2s.<\/p>\n
Frequently, it’s a second job that someone takes.<\/p>\n
Or their spouse decides to work part-time.<\/p>\n
That income is taxed the same way your other income is, even if it’s for a small amount of money.<\/p>\n
If you’re earning a decent amount of money at your main job, there’s no good reason why an additional “small” W-2 should not have a substantial amount of taxes being withheld.<\/p>\n
Yes, the secondary job is relatively small, but if you’re adding $15K to your income without withholding the correct amount of taxes, it’s going to come back to bite you when you file your taxes.<\/p>\n
I’ve seen this too frequently.<\/p>\n
Do it for your accountant.<\/p>\n
Do it for yourself.<\/p>\n
Anybody enjoy getting hit with a large tax bill when they file their tax returns?<\/p>\n","protected":false},"excerpt":{"rendered":"
Too many people are not withholding enough income taxes on their W-2s. Frequently, it’s a second job that someone takes. Or their spouse decides to work part-time. That income is taxed the same way your other income is, even if it’s for a small amount of money. If you’re earning a decent amount of money […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n